Now with One ounce of Gold one can buy 39 barrels of Crude OIL. And interestingly GOLD/OIL Ratio is at 30 year high The reason behind such a huge Gold/Oil ratio is due to predominantly due to plummeting OIL prices and whereas Gold prices inching upwards slowly and steadily.
Last 30-year average of gold/crude ratio is 17. That is crude is likely to trade more than 2.25x times twice as high as the current oil price. And according to ZeroHedge a spike in the ratio has resulted in “something systemically serious” on a global scale
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